1720 Sheepshead Bay RdBrooklyn, NY 11235

Property Details for 1720 Sheepshead Bay Rd

Year built

1927

Lot size

0.56 AC

Property size (Sq ft)

37,363 SF

Zone code

R4

Property type

Investment properties

Property subtype

Retail residential properties

APN

08770-0013

APU

87700013

Description

This exceptional three-story commercial property, located at 1720 Sheepshead Bay Road in Brooklyn, NY (zip code 11235), presents a unique investment opportunity. Boasting a total of 37,363 square feet on a 20,590 square foot lot, this property features four units currently occupied by a diverse mix of tenants including a restaurant, convenience store, hair salon, and a large fitness center. The ground floor encompasses 8,000 square feet, housing the restaurant, convenience store, and hair salon. The fitness center occupies 14,000 square feet on the ground level, and an additional 20,000 square feet on the second floor and 6,500 square feet on the third floor, totaling 40,500 square feet and potentially available vacant. Ceiling heights range from 11 to 20 feet. The building benefits from a highly visible location directly off Exit 8 of the Belt Parkway westbound, providing excellent marketing potential. Its proximity to the B/Q Sheepshead Bay train station, a large municipal parking lot, and a bus stop further enhances its accessibility and appeal. Two convenient entrances, one on Sheepshead Bay Road and another on Shore Parkway North, serve the property. The asking price for this remarkable investment opportunity is $16,500,000. Proof of funds or a bank pre-qualification letter is required before scheduling a viewing.

• CAP approach

  CAP return

  Valuation

  6%

  $7,659,752

  6.5%

  $7,070,541

  7%

  $6,565,502

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,566,867

  Geo Method

  $7,566,867

• Alternative Use

  Use

  Valuation

  Residential

  $7,070,541

  Hospitality

  $6,476,578

  Educational

  $5,388,436

  Medical

  $5,573,753

  Retail

  $8,382,012

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.5854

Longitude

-73.952

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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